{"id":11268,"date":"2020-10-27T22:27:56","date_gmt":"2020-10-27T22:27:56","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=11268"},"modified":"2026-04-24T00:36:54","modified_gmt":"2026-04-24T03:36:54","slug":"ainsworth-game-technology-revenue-falls-36","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ainsworth-game-technology-revenue-falls-36","title":{"rendered":"Ainsworth Game Technology revenue falls 36%"},"content":{"rendered":"\n

Ainsworth’s chairman\u00a0says the drop was mainly due to\u00a0temporary closures of venues and customers’ reduction in capital expenditure.<\/p>\n\n\n\n\n\n\n\n

Australia.-\u00a0Ainsworth Game Technology has reported that sales revenues dropped 36 per cent for its full-year 2020. Sales revenue for the\u00a0slots\u00a0machines manufacturer\u00a0dropped to\u00a0AU$149 million (US$106.3 million).\u00a0<\/p>\n\n\n\n

Chairman Danny Gladstone said: \u201c”ith reduced trading in quarter four, the second half of the year contributed approximately 87 per cent of this decline, which is traditionally the strongest period.\u00a0\u00a0<\/p>\n\n\n\n

\u201cOur opportunities to operate and sell new machines were inhibited as customers temporarily closed venues and cut capital expenditure programs.”<\/p>\n\n\n\n

Ainsworth\u2019s profits in Australia were down to AU$0.4 million (US$285,408),\u00a0as revenues fell 26 per cent year-on-year.\u00a0\u00a0<\/p>\n\n\n\n

As a whole, the year ended with losses after taxes of AU$43m (US$30.6m). Ainsworth still has\u00a0AU$26.5m in its pocket and\u00a0a net debt position of AU$17.5m (US$12.4m) due to its acquisition of MTD assets in March.\u00a0\u00a0<\/p>\n\n\n\n

Gladstone\u00a0said: \u201cMTD has performed resiliently and we remain confident that this acquisition will provide good returns over coming periods.\u201d\u00a0<\/p>\n\n\n\n

Ainsworth managed to renegotiate current financing facilities. It also\u00a0eliminated 107 positions<\/a><\/em><\/strong> globally and employees took voluntary pay cuts to save US$7.3m in costs.\u00a0<\/p>\n\n\n\n

Finally, the chairman announced the board has “has prudently decided to place the dividend policy on hold. We will retain this position until the current uncertainties in our markets become more predictable.\u201d\u00a0<\/p>\n\n\n\n

As for the future, Levy anticipated 2021 will be a year of two distinct halves: \u201cHalf 1 will be about safety and security through the reopening phase; half 2 will be about recuperation and development as we enter the ‘new normal’ phase.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"

Ainsworth’s chairman\u00a0says the drop was mainly due to\u00a0temporary closures of venues and customers’ reduction in capital expenditure.<\/p>\n","protected":false},"author":2,"featured_media":11270,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Ainsworth Game Technology reported a 36% decline in FY2020 sales revenue to AU$149 million, resulting in AU$43 million in losses after tax, primarily due to venue closures and reduced capital expenditure by operators. The company has implemented cost-saving measures, including job cuts and a suspended dividend policy, while expressing confidence in its MTD acquisition and anticipating a phased recovery in 2021.","focusai_entities":"Ainsworth Game Technology, Ainsworth, Danny Gladstone, MTD, Levy","focusai_location":"Australia","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.75), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (0.85)","focusai_suggestions":[{"label":"MTD Acquisition Synergies?","query":"What specific synergies and revenue contributions are anticipated from the MTD acquisition in H2 2021, and how will this mitigate ongoing market uncertainties?"},{"label":"Capital Expenditure Outlook?","query":"Given the continued market uncertainties, what is Ainsworth's revised capital expenditure strategy for FY2021, particularly concerning R&D and new market penetration?"}],"footnotes":""},"categories":[16336,163],"tags":[289],"class_list":["post-11268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-australia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11268"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11268\/revisions"}],"predecessor-version":[{"id":11284,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11268\/revisions\/11284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11270"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}